Policy regarding responsible lending
All applications are submitted through a filtering process to ensure the borrower has the sufficient income to reimburse the loan. This includes, but is not limited to: verifying that your monthly salary is sufficient to reimburse the loan and qualifies for a loan. That you do not have an excessive amount of insufficient funds charges in your bank account. That you do not have an excessive amount of pre-authorized payments posted to your bank account that would interfere with paying your loan in a timely matter. If you do not meet these criteria, your loan application will be refused.
Caution: Please borrow responsibly.
We offer a way to help you in a financial difficulty. However, the interest rate is higher than that of local banks. They should only be taken when you have no other possibilities of financial help and should be used as seldom as possible. When taken correctly if may be the right answer for you. However, taking on many short term loans at the same time will result in deep financial problems and in overbearing debt.
We offer equal payments over a period of 3 months starting from your next paycheck.
The APR on the amount borrowed from the lender is fixed at 32%.
Returning customers may renew as soon as their existing loan is paid in full.
At any time you can payoff your loan to save on interest. There are no extra fees
Missed Payments and credit score
Any payments that are missed will be put to the end of your contract with a 40$ insufficient funds charge as per the contract. This will not negatively impact your credit score with our company. If you need to postpone a payment, you must call us 48 hours in advance, it will be put to the end of your contract with a 25$ fee.
Our company uses fair collection practices. If you fail to make your payments, our collection officers may terminate your installment plan to employ different methods of collecting the money that is due. Installments that are terminated will collect interest on the unpaid balance of your loan. The borrower covers any legal fees required to obtain the payments.
Any uncollected debts are pursued to the full extent of the law.